Recent statistics are painting a good picture for the UK’s property market, especially here in the East Midlands. On average, the cost of a new build property rose by around 5%.
Generally, rising house prices mean that the property market is performing especially well. And with statistics also revealing that the house building and construction industries are showing signs of growth too, now is the perfect time to make your move into property.
Why the East and West Midlands are the places to be
In the East Midlands, where we’re based here at Earl & Pelham, the average increase in new build house prices has been especially strong – so strong in fact that it was second only to the West Midlands in the entire country.
The strength of the property market in the Midlands overall means it’s an exciting time to be looking at a new home in these areas. New homes are being built on a more regular basis and this means plenty of choice for you as the buyer.
Because of how well the property market is performing in these two areas, they are looking set to be the go-to places for potential buyers and developers, both now and for the future. And here at Earl & Pelham, we’re excited about what this means for our region.
New or traditional?
Though the new build property market appears to be performing well, there’s a huge case to be made for traditional properties, especially Victorian properties such as Pelham House. A recent news article showed that this particular style of house is very much still in demand, with buyers willing to spend between 10 and 15 per cent more for a Victorian home in contrast to a bland, featureless new build.
One of the main reasons for this is durability. Most Victorian-style properties have stood strong since the start of the 1900s and have retained many of their defining features such as the unique brickwork and interior features such as the beautiful high ceilings and large bay windows.
Another reason why Victorian properties appear to be in demand is the fact that it is relatively easy to develop them for living in 2018, whilst still keeping the property’s heritage intact. And with many properties situated close to city centres and transport links, it’s easy to see why the appeal of a Victorian home is still incredibly strong today.
With Victorian homes holding their value, they make for a sound investment. And in the East Midlands especially, there are plenty of Victorian properties to choose from.
Our own development of new ‘Victorian-style’ apartments
At Earl & Pelham, we’re fortunate to be right in the heart of a strong region of house price growth and an abundance in Victorian properties. Our own development, Pelham House, has been a good example of how this combination has been especially successful.
Combining vintage Victorian design with the latest developments in modern living, Pelham House is perfect for anyone looking to move into a picturesque part of Nottingham.
Pelham House is a development of a stunning Victorian home that has been transformed into ten contemporary apartments with modern interiors close to the Nottingham city centre.
The homes are an ideal investment for both first-time buyers or buyers looking to add to their existing portfolio. But there are only 7 apartments left, so contact us to find out more and arrange a showroom viewing.
Looking for your new home?
With the housing market performing strongly across the entire region, the East and West Midlands are leading the way in the UK property market, and we can help you to have a part of that success.
Robin Estates are hosting the Pelham House Open Day on Saturday 20th October from 11:00AM – 1:00PM. This is the perfect opportunity for you to come and see the beautiful apartments for yourself. Any individual that reserves an apartment on the day will receive £500 towards their legal fees. Contact us on 0115 8240235 for details about our developments.